The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales at the store, excluding gas. The accompanying data file contains the sales for 30 weeks. Click here for the Excel Data File a. Use the 3-period moving average to forecast sales for the 31st week. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. h = b. Use simple exponential smoothing with a 0.3 to forecast sales for the 31st week. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. |ŷt= c-1. Report the performance measures for the techniques in parts a and b. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Technique Moving average Exponential smoothing MSE MAD MAPE (%) c-2. Which is the preferred technique for making the forecast? because it has the out of 3 performance measures Week Sales 1 4848.3000 2 4969.8000 3 4776.3000 4 4952.7000 4851.9000 567 4950.0000 4754.7000 8 4660.2000 9 4349.7000 10 4511.7000 11 4536.0000 12 4878.0000 13 4602.6000 14 4568.4000 15 4436.1000 16 4707.9000 17 4498.2000 18 4428.0000 19 4476.6000 20 4400.1000 21 4555.8000 22 4254.3000 23 4599.9000 24 4846.5000 25 4532.4000 26 4381.2000 27 4533.3000 28 4818.6000 29 4516.2000 30 4685.4000
The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales at the store, excluding gas. The accompanying data file contains the sales for 30 weeks. Click here for the Excel Data File a. Use the 3-period moving average to forecast sales for the 31st week. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. h = b. Use simple exponential smoothing with a 0.3 to forecast sales for the 31st week. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. |ŷt= c-1. Report the performance measures for the techniques in parts a and b. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Technique Moving average Exponential smoothing MSE MAD MAPE (%) c-2. Which is the preferred technique for making the forecast? because it has the out of 3 performance measures Week Sales 1 4848.3000 2 4969.8000 3 4776.3000 4 4952.7000 4851.9000 567 4950.0000 4754.7000 8 4660.2000 9 4349.7000 10 4511.7000 11 4536.0000 12 4878.0000 13 4602.6000 14 4568.4000 15 4436.1000 16 4707.9000 17 4498.2000 18 4428.0000 19 4476.6000 20 4400.1000 21 4555.8000 22 4254.3000 23 4599.9000 24 4846.5000 25 4532.4000 26 4381.2000 27 4533.3000 28 4818.6000 29 4516.2000 30 4685.4000
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 5 images
Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.